Chandigarh's ever growing infrastructure has paved way for development of real estate in neighbouring areas like Panchkula, Mohali, Mullanpur, Zirakpur and DeraBassi. Although, Dera-Bassi and Mullanpur are still in growing stages, but land prices here are comparable to those prevalent in Chandigarh's prime areas.

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Chandigarh's ever growing infrastructure has paved way for development of real estate in neighbouring areas like Panchkula, Mohali,
Mullanpur, Zirakpur and DeraBassi. Although, Dera-Bassi and Mullanpur are still in growing stages, but land prices here are comparable to
those prevalent in Chandigarh's prime areas.
Panchkula is another case-study in point. Till recently, Panchkula's only reference was that of being a suburban locality on the outskirts of
Chandigarh. The region changed its profile very quietly. Small houses have given way to plush apartments and kothis; villages are fast
evolving themselves to become suburban towns. Most villagers have sold their agricultural land to individual buyers or local property
builders at skyrocketing prices. Today, who's who of Haryana owns an abode there. Haryana's politician, industrialists and rich traders own
land banks in most parts of Panchkula.
Chandigarh Housing Board (CHB) has launched some of the most promising projects recently. The CHB tied up with Parsvnath Developers
Limited to develop a housing complex near the Rajiv Gandhi IT Park. Parsvnath has built another mega project in collaboration with CHB.
Named as Parsvnath Prideasia, this residential township will come up amidst Sukhna Lake, golf course, and an upcoming five star hotel. It
has saleable residential area of 38.5 lakh sq ft and a commercial area of 2.7 lakh sq ft.
Another real estate developer, GBP, has a premium project called GBP Eco - Greens along the Dera Bassi Road. GBP Eco - Greens has 652
spacious apartments in 11 housing blocks.
Property developer, RKM has built residential units along the Kharar-Landran Road in Chandigarh. These apartments are located
strategically near the Mohali Golf Course and the IT institutes.
Besides residential real estate, the hospitality industry is also doping good in Chandigarh. The Chandigarh Industrial and Tourism
Development Corporation (CITCO) has announced to set up a five-star hotel on the Chandigarh-Ambala highway. The corporation is in talks
with Hilton, ITC, Marriot and Radisson groups to set up this project.